Bailout package: IMF, Pakistan talks to continue for second day today

ISLAMABAD: The Pakistani government and a technical team of International Monetary Fund (IMF) will resume their talks regarding a bailout package, on Thursday (today), for a second day in the federal capital. 

According to sources, data regarding different sectors of the economy will be shared with the IMF delegation today.

“The second phase of talks between Pakistan and IMF will commence from Monday and the discussion to focus on different policy matters,” sources added.

A day earlier, talks were held in Islamabad between the IMF delegation and officials of the finance ministry on a “technical level”. The government shared Pakistan’s economic data with the IMF. The Fund has suggested Pakistan to cut its expenditures and increase tax returns.

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Sources said the talks would continue for two weeks till November 20.

The government has reportedly finalised its paperwork to seek up to $6 billion bailout package from the IMF.

Speaking shortly after Prime Minister Imran Khan returned from Beijing, Pakistan’s finance minister had said Tuesday that assurances from China — combined with a pledge made by Saudi Arabia last month — meant that Pakistan’s immediate fiscal woes were “over”.

The finance minister on October 11, called on IMF chief Christine Lagarde to formally request the global body for providing financial assistance to rescue the economy of Pakistan.